Pages

Wednesday, 28 December 2016

File plaints against real estate frauds, police urge victims

The economic offences wing of Coimbatore city
police has requested the public to come forward to file complaints against real
estate frauds

COIMBATORE: The economic offences wing of Coimbatore city police
has requested the public to come forward to file complaints againstreal estatefrauds.

The city police have recently arrested M
Venkatesh, managing director of Star Land Associates at Kavundampalayam, who
had collected 1.50 lakh each from more than 52 people by promising them a home
but never delivering them any apartment.

"Several fake real estate companies continue
to cheat people by promising homes at very cheap rates. This particular case,
in which more than 70 residents from Kavundampalayam, Periyanaickenpalayam and
Karamadai were duped of several crores, was reported last October. "They
were promised 148 plots at Pilichi village near Karamadai under the name
'Kuberipura Nagar'. The case was registered with the district crime branch and
transferred to us only this month. We have so far received 25 complaints but we
expect more people to come forward to ensure we get all details before we
chargesheet the case," said a police officer attached to the economic
offences wing .

The real estate owner, Venkatesh, was arrested and
is now out on bail, added the police officer. "He had given advertisements
in local television channels and newspapers, promising land to those who paid
1.50 lakh in instalments. Many paid 2lakh as well. Only after people paid up,
did they realise the land did not belong to Venkatesh," said the officer.

A few realized they had been cheated only when he
refused to register the land in their name.

Last October, the residents had approached the
district collector and subsequently, the district crime branch registered the
case. Lakshmanan, one of the victims, immediately approached the owners and
demanded his money. They had promised that they would return it in three
instalments but in vain.

Meanwhile, residents came to know that the owners
of Star Land Associates began expanding their business, cheating people in
Chettipalayam and Madampatti as well. "We petitioned the collector and
also registered a case after which the police arrested the owners," said
one of the residents.

"So far, 52 depositors have come forward and
we have registered their complaints. Close to 90.58lakh needs to be
recovered," said police inspector, R Muruganantham.

He added that many such real estate companies were
mushrooming in the city and warned public against getting cheated.